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Nov 29, 2012
11/12
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the fiscal cliff being one of them. david: right. >> they don't really think they can overcome on their own. david: jon, we had sheila bair on a critic the fed. she is not a right-wing ideologue by any respect. she was for elizabeth warren. she says they are creating another bubble. in december they meet again. the question will they continue with operation twist where they buy the long term bonds. they don't have many short-term bonds to trade for in their portfolio, do they? >> bottom line, if they continue purchases of long term bonds they have been doing they will have to do it by printing money, which isn't going to make critics of the fed --. david: that is pure monetizaton of the debt, right? if they're printing money to buy debt. that is monetizaton of debt. that is the definition of it. >> it is close to it. it is close to it. they're not buying it directly from the government. they're buying it from secondary markets. it certainly has the sniff of that. this is one of the reasons why the what the fed is doing
the fiscal cliff being one of them. david: right. >> they don't really think they can overcome on their own. david: jon, we had sheila bair on a critic the fed. she is not a right-wing ideologue by any respect. she was for elizabeth warren. she says they are creating another bubble. in december they meet again. the question will they continue with operation twist where they buy the long term bonds. they don't have many short-term bonds to trade for in their portfolio, do they? >>...
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Nov 27, 2012
11/12
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you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to not tell anyone. you don't want people to know. >> i have pondered this question. a lot of states require that you show up. it is very difficult to stay secret because they want a lot of publicity. what happens is if you are poor and you have a lot of friends and family who are poor they come to you for money. >> you can have a day or two before you show it. the first thing i advise people to do is contact a very reptutable security firm. they are going to make sure that you are relocated to a safe place. if you are not a celebrity already. >> you said security firm i thought you meant securi
you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to...
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Nov 24, 2012
11/12
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FBC
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eye 47
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why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happen. think there will be a deal struck here, each side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we are blowing it up -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good long-term efeffects for the economy. gerri: you picked up something interesting out of ben bernanke at statement about banks being too tight with their lending. what did you make of that? >> it is very interesting because ben bernanke is talking about the unwillingness of banks to lend more noncredit were the people and the problem i have with that is banks are having to do that because ben bernanke has killed the bank model and if you look back at banks and how they make money they borrow on the short end meaning they borrow at the low end of int
why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happen. think there will be a deal struck here, each side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we are blowing it up -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good...
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Nov 29, 2012
11/12
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are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on local, helping businesses retain customers an drive frequency in their local markets can really help drive through any potential impact of a fiscal cliff. >> jeff, what are you hearing in the valley about the fiscal cliff, how concerned are the other people that you talk to, the inknow vnovators out there, are millionaires, billionaires and many of whom are trying to start new businesses in the valley. >> you know, the perception is more about -- the talk is more about the potential impact on business and allowing -- not taking action to address this issue and letting it expire is bad for business. every
are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on...
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Nov 28, 2012
11/12
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it's the fiscal cliff. just in the last hour, at his first cabinet meeting since re-election, the president expressed the urgent need for a deal, one that he wants to see extend tax cuts for the middle class while letting them expire for the highest earners. >> there is no reason why taxes on middle class families should go up. it would be bad for the economy. it would be bad for those families. in fact, it would be bad for the world economy. and so i think it's very important that we get that resolved. and i am very open to a fair and balanced approach. >> the president met with middle class tax payers today, urging them to employ twitter hash tag my y2k, telling congress this is too important for them to screw it up. >> today i'm asking congress to listen to the people who sent us here to serve. i'm asking americans all across the country to make your voice heard. it's too important for washington to screw this up. >> and a new survey shows the president has the public on board in a new washington post po
it's the fiscal cliff. just in the last hour, at his first cabinet meeting since re-election, the president expressed the urgent need for a deal, one that he wants to see extend tax cuts for the middle class while letting them expire for the highest earners. >> there is no reason why taxes on middle class families should go up. it would be bad for the economy. it would be bad for those families. in fact, it would be bad for the world economy. and so i think it's very important that we get...
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Nov 21, 2012
11/12
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CNBC
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>> the fiscal cliff? >> reporter: cliff. what is the fiscal cliff? >> i have no idea. >> reporter: so it's a bad thing? >> not necessarily. >> that's the budget. it ends january 1. am i right? and we're just all going to collapse. >> reporter: you're happy about it. >> fiscal cliff. it is broken down into i saw jim cramer's episode about it. >> somebody knew more on it. i did run into two chicago bears fans who didn't have much to say about fiscal cliff but plenty to say about the loss to the 49ers. >> americans have got to get with the program. >> i think a couple of those guys were -- >> maybe americans are smarter. maybe they are like it is not going to happen. i'm just trying to pay my bills. >> that's it. >> lalalalala. like that. have a great thanksgiving. see you next week. >> you, too. >>> you got to know when to hold them and fold them. we have the final word on stocks with 52-week highs. [ male announcer ] the markets keep moving. make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with pos
>> the fiscal cliff? >> reporter: cliff. what is the fiscal cliff? >> i have no idea. >> reporter: so it's a bad thing? >> not necessarily. >> that's the budget. it ends january 1. am i right? and we're just all going to collapse. >> reporter: you're happy about it. >> fiscal cliff. it is broken down into i saw jim cramer's episode about it. >> somebody knew more on it. i did run into two chicago bears fans who didn't have much to say about...
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Nov 28, 2012
11/12
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they would have to address the fiscal cliff. just urging washington to do the right thing whether it is simpson-bowles, john boehner and harry reid, everybody getting together. let's get on with it. liz: you got back from my plays were trying to lure jobs from a software company, any luck on that front? >> to have a strong presence in rhode island which they acquired in long island and we want them to stay and grow me very productive meeting face-to-face with the ceo of. that is always a good idea to have a face-to-face meeting. liz: i know we have to go, but quick question, are you preparing two separate budgets for the inevitability? >> of course. those are the types of cuts we really cannot afford them. we have been through tough times in long island and across the country, of course the loss of the stimulus money when i came in we had a big deficit we had to overcome. having to get deeper into that whole would not be good for the economy. liz: thank you for joining us rea.we like our governors of evy state. he is an independ
they would have to address the fiscal cliff. just urging washington to do the right thing whether it is simpson-bowles, john boehner and harry reid, everybody getting together. let's get on with it. liz: you got back from my plays were trying to lure jobs from a software company, any luck on that front? >> to have a strong presence in rhode island which they acquired in long island and we want them to stay and grow me very productive meeting face-to-face with the ceo of. that is always a...
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Nov 29, 2012
11/12
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fuel will youly lost sea. >>> now, litz listen to, this fiscal cliff or no fiscal cliff, your taxes will probably go up anyway. it's all because of obama. >> the economy, slam investors and triple capitalism. say no to nationalized health care system, no to blanket tax increases and that means let low. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tourism seasons in years. and bp's also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. with scottrader streaming quotes, any way you want. fully customize it for your trading process
fuel will youly lost sea. >>> now, litz listen to, this fiscal cliff or no fiscal cliff, your taxes will probably go up anyway. it's all because of obama. >> the economy, slam investors and triple capitalism. say no to nationalized health care system, no to blanket tax increases and that means let low. [ male announcer ] this december, remember -- what starts with adding a friend... ♪ ♪ ...could end with adding a close friend. ♪ the lexus december to remember sales event is...
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Nov 21, 2012
11/12
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FBC
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eye 86
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what is the fiscal cliff? what is it going to do if we take the budget cuts to college students aids? >> well, in two ways. the sequestration will cut all student aid but the pell grant by 8 percent across the board. the pell grant sheltered in 2013. come 2014 and also will be cut automatically by 8%. american opporunity tax credit expires the end of 2012 as well. gerri: it sounds like -- and here is your number right here. the fiscal cliff hits it could result in a percent cut in federal student aid. clearly people are going to seek higher costs for college. how can a company that if they have to do it on their own diamond cannot borrow money? >> they need to say before college. every dollar you save is a dollar less you have to borrow. search for scholarships on free web sites. every dollar you when is a dollar less you have to borrow. gerri: and definitely make sure you are saving. i think that is obvious. let's break this down a little bit because there is all kind of student aid. the impact on pell grants
what is the fiscal cliff? what is it going to do if we take the budget cuts to college students aids? >> well, in two ways. the sequestration will cut all student aid but the pell grant by 8 percent across the board. the pell grant sheltered in 2013. come 2014 and also will be cut automatically by 8%. american opporunity tax credit expires the end of 2012 as well. gerri: it sounds like -- and here is your number right here. the fiscal cliff hits it could result in a percent cut in federal...
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Nov 23, 2012
11/12
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MSNBCW
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theith the dow dropping signifily after the election on fiscal cliff happen? people are starting to pull money out of stocks and dividend dividends a little les valule. thatee the market continue to go down resolved and could see a plunge if we hit january 1stnto effect. he flip side of that, if washington actually gets i resolve this in a better wthan could have a prett good economy weoupickup in the stock market. if they make a deal that's not expected, i think wwould see an immediate impact. i think we're going to see a deal that comes out of dribs and of a lastg minute thing and al see it coming when it does tend fiz bole, the cbo, ben bernanke who coined the term fiscal cliff. they have predicted if a deal is not reached, the conen any chance that if a deal is not reachethat perhaps that's an overstatement? >> we need to keep in mind, this is not one measure that's an all or nothing type of deal. the taxes we keep hearing about are ne different ss of taxes then there are the spending cuts which affect literally hundreds and hundreds of government allo so
theith the dow dropping signifily after the election on fiscal cliff happen? people are starting to pull money out of stocks and dividend dividends a little les valule. thatee the market continue to go down resolved and could see a plunge if we hit january 1stnto effect. he flip side of that, if washington actually gets i resolve this in a better wthan could have a prett good economy weoupickup in the stock market. if they make a deal that's not expected, i think wwould see an immediate impact....
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Nov 29, 2012
11/12
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we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy stocks that are growing at 20% a year at ten times earnings, that's a good valuation. there are a number of those situations there that we're seeing left and right. >> got to go, guys. >> okay. >> sorry, jeff. you know how that works. you guys on the website, you get unlimited amount of space. just go on. >> tell me editor. >> i know. >> thanks, guys. see you soon. let's get over to jackie deangelis with a quick market flash. >> hey, there. watching shares of super value tanking on a headline that talks have stalled. reportedly struggling to get financing for a s
we go off the fiscal cliff. 2013 comes. we go into recession. doesn't that hit corporate earnings, which, of course, has been the best part of this recovery anywhere? >> there's no question about that. i would contend that the market has probably already factored most of that in. when you can buy a number of stocks -- in the hodges small cap fund, we have a number of stocks trading below their growth rate. that's telling you that the market is not expecting good growth. when you can buy...
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Nov 22, 2012
11/12
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st we have the fiscal cliff. part of that, but the irs is saying we're not going to changi our computer program because we really don't know what willor ce .really d't it could be chaos out there. ou >> they are expecting that theyh will sign a patch like they have fin every year, but -- a gerri: and that means the law goes back to what it has been of the past 12 months, and you don't have to pay that. t w many people would be on thes hook? ha will what it means?eople would b >> right now theree are about 4 million infected people, butfr that would go up to 30 some odd million people.on so 28 million people would now be thrust in. if you remember, this was going t be t back to 1969, 1970. to 155 people is what they wanted to get that were not paying0 enough taxes. >> every year more and morewheri people got in. but now with this the virus isep saying, hey, we assume it will happen and it doesn't, then no one ll be able to file thei tax return on time. if you're expecting a refund you ll not get it. actually, this
st we have the fiscal cliff. part of that, but the irs is saying we're not going to changi our computer program because we really don't know what willor ce .really d't it could be chaos out there. ou >> they are expecting that theyh will sign a patch like they have fin every year, but -- a gerri: and that means the law goes back to what it has been of the past 12 months, and you don't have to pay that. t w many people would be on thes hook? ha will what it means?eople would b >>...
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Nov 21, 2012
11/12
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we'll have a sudden fiscal cliff? >> i worry about the damage that mighting done in fixing it. you don't think the tax increases that could come at the end of the year and the spending cuts of less 100 build, you don't think those would in deuce a severe recession and everybody on wastreet? >> they are not that big of rate increases so far. welcome to the show and what would you do about it? >> they are proposing letting the bush tax cuts stand for everyone because the top 2%. if you raise them and closing the interest loop hole, fixing the estate tax you come out to $100 trillion in savings. >> serious question, you have a famous name and we welcome you onto the program. do you record that as rich? >> what i regard is irrelevant haven't, the fact of the matter is they represent the bottom of the 2% of easternrners in the country. the question is an interest heihe i interesting one. we have been cherry picking the stories. the fact is that 3% of businesses will be affected by these increases. could be a big three percent though. let me go back to casey mulligan. i believe she i
we'll have a sudden fiscal cliff? >> i worry about the damage that mighting done in fixing it. you don't think the tax increases that could come at the end of the year and the spending cuts of less 100 build, you don't think those would in deuce a severe recession and everybody on wastreet? >> they are not that big of rate increases so far. welcome to the show and what would you do about it? >> they are proposing letting the bush tax cuts stand for everyone because the top 2%....
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Nov 28, 2012
11/12
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dave: could the fiscal cliff be a good thing? bill harris of personal capital and former ceo of into it and pay pal might think so. find out why when he joins us in studio. but d#: 1-800-345-2550 this morning, i'm going to tre in hong kong. tdd#: 1-800-345-2550 after that, it'sn to germany. tdd#: 1-800-345-2550 then0 miles away in japa tdd#: 1-800-345-2550 with the new obal account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in tal control becausi can trade tdtd: 1-800-345-2550 dictly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-25 their equity ratings show me how schwab td: 1-800-345-2550 rates ecific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-2550 and i also have access to independent tdd#: 1-800-345-2550 firms like ned davis research tdd#: 1-800-345-2550 and economist intelligen
dave: could the fiscal cliff be a good thing? bill harris of personal capital and former ceo of into it and pay pal might think so. find out why when he joins us in studio. but d#: 1-800-345-2550 this morning, i'm going to tre in hong kong. tdd#: 1-800-345-2550 after that, it'sn to germany. tdd#: 1-800-345-2550 then0 miles away in japa tdd#: 1-800-345-2550 with the new obal account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right...
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Nov 28, 2012
11/12
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has president obama put this s fiscal cliff plan on the table. one member of the senate says it is time for president obama to tell america what this man is. that senator is pat toomey of pennsylvania. he is going to join us here in 25 minutes. next up is the republican party about to lose it's soul and principles over the fiscal cliff debate. why is nobody talking ip t inin media about spending cuts. let's talk to brent great to see you on the show. thank you for coming. let me start with this thought. over this fiscal cliff debate. nobody is cutting spending. everybody is talking about taxes. is the gop losing it's soul and principles? >> no one is being serious in it's debate. the fellow from adi is making sound statements. but he is whistling past the graveyard. there is no problem that the obama budget calls for spending giving us a deficit of $1 trillion per year as far as the eye can see. tax cuts didn't cause this. it is spending that caused this. you go to spending. you have the cpo itself is saying the only way to do this is getting oba
has president obama put this s fiscal cliff plan on the table. one member of the senate says it is time for president obama to tell america what this man is. that senator is pat toomey of pennsylvania. he is going to join us here in 25 minutes. next up is the republican party about to lose it's soul and principles over the fiscal cliff debate. why is nobody talking ip t inin media about spending cuts. let's talk to brent great to see you on the show. thank you for coming. let me start with this...
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Nov 22, 2012
11/12
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we don't want a deal on the fiscal cliff, we want a good deal on the fiscal cliff. >> right. now this is really key. first of all, i want it say one thing, regarding ben bernanke and his monetary safety net and he did say yesterday that he didn't think monetary policy could offset a fiscal cliff recession. i don't want to get into a lot of fed watching. i'm just saying, i'm not sure the federal reserve will do much more. maybe they will, maybe they won't. now regarding good deals versus bad deals, this is where i disagree with some of think kol a colleagues here. maybe you do too. if this is deal that jacks up tax rates, the capital gains rate, dividend rate, if it has a millionaire surtax as senator collins said, that's not such a hot deal. how would they react to a high tax on investor type of deal. >> they limit investments. they make investments less attractive. the stock market doesn't want a big raise on capital gains and dividends. the stock market is okay with a small one. the best is the 39% ordinary income tax hike. but essentially leave dividends and capital gains
we don't want a deal on the fiscal cliff, we want a good deal on the fiscal cliff. >> right. now this is really key. first of all, i want it say one thing, regarding ben bernanke and his monetary safety net and he did say yesterday that he didn't think monetary policy could offset a fiscal cliff recession. i don't want to get into a lot of fed watching. i'm just saying, i'm not sure the federal reserve will do much more. maybe they will, maybe they won't. now regarding good deals versus...
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Nov 21, 2012
11/12
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FBC
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where the traders not concerned about the fiscal cliff? what went on? >> the fiscal cliff was so widely expected is becoming a non-event at this point. the market managed to eke out a gain today. the european issue is also something on the traders minds. the emergency meeting monday, we have to resolve issue with grief that will be firs first and fort on their minds into next week. david: they're never going to resolve that issue. it will never, ever happen. i don't think they will resolve it. you bring up a great point because if worst-cas worst caseo we go over the fiscal cliff and all of those tax changes expire, we will see a tripling of the dividend tax. if that happens, so many people invested right now, you said some of them might change from issuing dividends to buying back their stocks, right? >> that will be the tax efficient way people will return money, cash to shareholders. taxes on dividends are likely to go up, so that could be more efficient place. a dividend issue we have talked about before overplayed maybe an overcrowded area. lauren:
where the traders not concerned about the fiscal cliff? what went on? >> the fiscal cliff was so widely expected is becoming a non-event at this point. the market managed to eke out a gain today. the european issue is also something on the traders minds. the emergency meeting monday, we have to resolve issue with grief that will be firs first and fort on their minds into next week. david: they're never going to resolve that issue. it will never, ever happen. i don't think they will...
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Nov 28, 2012
11/12
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forget about the fiscal cliff for now. the income cliff, if you're an investor who's living off of dividend income, senior citizen, whatever, you are a tremendous risk here. >> david, all you have to look at it the news we just brought you some 15 minutes ago. that disney is now raising the dividend payable december 28th. why? because it's a few days before the fiscal cliff. today, costco, walmart, las vegas sands, dil lards. the list goes on and on. it's been a tidal wave. it's important to everybody. that's why they're doing it. >> let me just correct a couple things jeff said. first of all, what president obama is proposing is to just raise those dividend taxes on people making over $it -- $200,000 or $250,000. the ordinary retiree is not going to be hit by this at all. that's one mistake. second, you have to keep in mind the last time we saw dividend tax rates go up in the tax reform after june, the stock market did nine. it did quite well during both those periods. one other thing to note is that if you have a 40 1(k)
forget about the fiscal cliff for now. the income cliff, if you're an investor who's living off of dividend income, senior citizen, whatever, you are a tremendous risk here. >> david, all you have to look at it the news we just brought you some 15 minutes ago. that disney is now raising the dividend payable december 28th. why? because it's a few days before the fiscal cliff. today, costco, walmart, las vegas sands, dil lards. the list goes on and on. it's been a tidal wave. it's important...
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Nov 28, 2012
11/12
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FOXNEWSW
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and with the fiscal cliff starting this month. it will fix a rocky relationship with the business community. no longer do we hear the fat cat talk but we hear the urgency and what strikes me is we are hearing from people we never hear from before at businesses, including the c.e.o. of walmart or walgreens or c.v.s., the c.e.o. of walmart is saying we don't need the uncertainty and the customers don't. and c.e.o. of c.v.s. is saying to washington, dc, our american families, our customers do their own budgeting, they don't need what is coming out of washington, dc, right enjoy, but they want to know you are working on our behalf and walgreens saying the c.e.o. saying the lack of fiscal chair difficult in washington, dc, this is holding back walgreens from investing and creating jobs and creating economic pregnant for -- economic growth for the country. >>neil: i worry about those companies who could use this as a excuse for bad sales or down gravity in their stock and blame it on the fiscal cliff when it has nothing to do with that
and with the fiscal cliff starting this month. it will fix a rocky relationship with the business community. no longer do we hear the fat cat talk but we hear the urgency and what strikes me is we are hearing from people we never hear from before at businesses, including the c.e.o. of walmart or walgreens or c.v.s., the c.e.o. of walmart is saying we don't need the uncertainty and the customers don't. and c.e.o. of c.v.s. is saying to washington, dc, our american families, our customers do...
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Nov 29, 2012
11/12
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FBC
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house speaker banner expressed his feelings on the fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor. we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus funds. that helps insulate us against some of the ups and downs of the market place nationally. our unemployment rate has dropped to 5.2. we are creating jobs. we are growing wealth in the private sector. our personal income is going up also. we are doing things that they ought to be doing in washington, d.c. liz: in the next three weeks, as you have meetings with your staff, you tell me, we talked about, for example, they have to prepare two separate budgets. how are you expected to be affected if, for example, 30% of your budget comes from federal funding, what if tha
house speaker banner expressed his feelings on the fiscal cliff. we are talking budgets and essential programs. how is the state of utah handling all of this wow it is day four. we welcome utah governor in a fox business exclusive. welcome, governor. we begin by asking all of our governors, what are you doing? what action are you taking in advance? >> well, we have done what is proper and prudent. we live within our means. we do not have unnecessary debt. we have a rainy day surplus...
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Nov 26, 2012
11/12
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FBC
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cheryl: time for our fiscal cliff survival kit series. we will bring you the tools you need to prepare for the changes that could be ahead. joining us now, we have the philips, spectrum managing principal. and portfolio manager. i want to start with you because you are telling your clients to reduce stocks exposure. >> yes, as we work toward the end of the year the fiscal cliff what is congress and the president going to do? taxes are going up. you look at the spending problem, you let taxes go back to people making over $250,000 per year. much of its revenue, still leaving it short of closing the deficit by close to a trillion dollars. it is all about tax rates. cheryl: it is about tax rates, but you're telling your clients stay focused, stay balanced in your portfolio, don't make any big changes but you also said in the last four months while a toady is in the market and also the gdp will shrink no matter what happens in washington with the fiscal cliff. >> i don't think we will have gdp, not part of our assessment. we see a very signif
cheryl: time for our fiscal cliff survival kit series. we will bring you the tools you need to prepare for the changes that could be ahead. joining us now, we have the philips, spectrum managing principal. and portfolio manager. i want to start with you because you are telling your clients to reduce stocks exposure. >> yes, as we work toward the end of the year the fiscal cliff what is congress and the president going to do? taxes are going up. you look at the spending problem, you let...
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Nov 28, 2012
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after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect question. look at the chart. here's a chart of today's treasury action against the equity market. indeed, other than around 1:00 eastern after the auction, they've been correlating. stocks go up, rates go up. stocks go down, rates go down. we're trading on pr. if the premise of this exchange is should we trade on headlines, if you're a day trader who understands once you make a trade and the air is gone out of the person you trade it with, that's the only realism that is there. pr doesn't move markets more than the short term. most of the people i
after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect...
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will the fiscal cliff be on the agenda? >>> and what will president obama say when he speaks live next hour at the white house? we'll be flanked by middle-class families whose wallets could be impacted if congress fails to reach a deal. ♪ [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today to learn about the kinds of coverage we offer, including aarp medicarecomplete plans insured through unitedhealthcare. these medicare advantage plans can combine parts a and b, your hospital and doctor coverage... with part d prescription drug coverage, and extra benefits... all in one complete plan... for a $0 monthly premium. no more than what you already pay for medicare part b. unitedhealthcare doesn't stop there. we'll cover 100% of your preventive services... like an annual physical and immunizations... and you'll have the flexibility to
will the fiscal cliff be on the agenda? >>> and what will president obama say when he speaks live next hour at the white house? we'll be flanked by middle-class families whose wallets could be impacted if congress fails to reach a deal. ♪ [ male announcer ] are you on medicare? do you have the coverage you need? open enrollment ends friday, december 7th. so don't wait. now's the time to get on a path that could be right for you... with unitedhealthcare medicare solutions. call today...
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Nov 26, 2012
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of the fiscal cliff on the markets. why? >> first of all, i don't think we'll go over the cliff. i think it's a lower probability we will not rather than we will. here's where i think you need to position a portfolio strategy. i don't think the market is priced in if we go over the cliff. what you need to do is be in risk assets, if this makes sense, more defense risk assets. dividend payers, technology, even overseas, emerging markets. china looks like it's finally starting to recover because the bottom line is, even if we don't go over the fiscal cliff, we'll still have a very, very slow growth environment for a period of time. you have to hedge both sides. don't get too optimistic but don't escape from the market completely because you could miss a rally up. >> mary, this dominates trading, doesn't it, the discussion about fiscal cliff? how much is it driving averages on every given day? >> it does. if you read the notes, you talk to traders, it's one of the first things they talk about every day. any headline you se
of the fiscal cliff on the markets. why? >> first of all, i don't think we'll go over the cliff. i think it's a lower probability we will not rather than we will. here's where i think you need to position a portfolio strategy. i don't think the market is priced in if we go over the cliff. what you need to do is be in risk assets, if this makes sense, more defense risk assets. dividend payers, technology, even overseas, emerging markets. china looks like it's finally starting to recover...
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Nov 27, 2012
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it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned a corpser? >>> speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to
it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned...
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Nov 28, 2012
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not made in the heat of the fiscal cliff. not done in the closing days here, of a lame duck session. let's look at this thoughtfully and make sure at the end of the day medicare is going to survive and be stronger. but i think there is plenty of ground here for us to come together as democrats and republicans, the congress and the president, and avoid the worst parts of the fiscal cliff. >> okay, so what entitlements then? what would you put on the table? right now it's been the narrative is kind of republicans will put taxes on the table, democrats will put entitlements on the table. and i talked to a couple people that say everything's on the table then they start ticking off all the things that are not on the table, excuse me, so what's on your table that's an entitlement that you'd be willing to negotiate before we fall off the cliff? >> of course. and the social security is a separate thing. it does not add a penny to the debt. we should deal with this long-term survival and solvency, and we can do that in a separate set
not made in the heat of the fiscal cliff. not done in the closing days here, of a lame duck session. let's look at this thoughtfully and make sure at the end of the day medicare is going to survive and be stronger. but i think there is plenty of ground here for us to come together as democrats and republicans, the congress and the president, and avoid the worst parts of the fiscal cliff. >> okay, so what entitlements then? what would you put on the table? right now it's been the narrative...
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Nov 28, 2012
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something tells me again i think we'll have another fiscal cliff panel soon. next up, harry reid and the nuclear option. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. >>> filibuster is far from a procedural gimmick. it's part of the fabric of this institution we call the senate. it was well-known in colonial legislature before we became a country. and it's an entry federal part of our -- entr intri gal part of our history. >> it's a fundamental power grab by the majority party. >> checks and balances that americans prize are at stake. i will do everything i can to prevent the nuclear option from being invokeed. not for sake of myself or my party. but for the sake of this great republic and its traditions. >> everyone in this chamber knows if the majority chooses to end the filibuster, if they choose to change the rules and put an end to democratic
something tells me again i think we'll have another fiscal cliff panel soon. next up, harry reid and the nuclear option. [ male announcer ] when was the last time something made your jaw drop? campbell's has 24 new soups that will make it drop over, and over again. ♪ from jammin' jerk chicken, to creamy gouda bisque. see what's new from campbell's. it's amazing what soup can do. >>> filibuster is far from a procedural gimmick. it's part of the fabric of this institution we call the...
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Nov 29, 2012
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a lot to get into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck in con kreetd as you said earlier. they don't want to move. they are denying election results. but there is real ominous things i think that are starting to surface here. any talk of a mortgage deduction change would be horrendous in my opinion and it would fly in the face of everything barack obama and joe biden ran on in protecting middle class. they have to be crystal clear that that is off the table. the housing crisis started the last recession. if they go after mortgage deductions, if they put that on the table even for high end homes, that will change sales,
a lot to get into this morning as we talk about the fiscal cliff. erskine bowles says he thinks democrats and republicans are serious about getting a deal done, but when you hear congressman cole walking back statements, do you think that's true? >> cole doesn't want to be a political target of the right. so he can easily say i really didn't mean that prks and to ge of the news. and probably trying to set the table for other guys. which is a signal that the right wing is still very stuck...
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Nov 26, 2012
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so we in california just over the weekend, we were both the fiscal cliff? they said the fiscal blitz? i said it is kind of like a fiscal blitz. >> it does not mean the stock market itself isn't going to react negatively to any deal that comes out with continued problems in europe. david: despite the fact that you are a bull, you only have 8% of your funds in u.s. stocks. why? >> the picture is better from a fundamental standpoint. you hear so many headlines of what is going on in europe and greece. almost generational lows. a lot of the risk is already been taken out.pensive markets in the world. not but 20 or 30% maybe 4%, 5% of u.s. you have to look elsewhere. liz: what are the three areas you like most? speaker in the u.s. overweight financials foreign. we're getting higher exposure to a lot of european countries. some emerging countries outside of europe, thailand turkey, that has had a particularly good momentum. a phenomenal run many index was up 15, 20, 30%. you have the perfect environment for them with high yield environment and they should do very
so we in california just over the weekend, we were both the fiscal cliff? they said the fiscal blitz? i said it is kind of like a fiscal blitz. >> it does not mean the stock market itself isn't going to react negatively to any deal that comes out with continued problems in europe. david: despite the fact that you are a bull, you only have 8% of your funds in u.s. stocks. why? >> the picture is better from a fundamental standpoint. you hear so many headlines of what is going on in...
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tim geithner is the point person for negotiating the fiscal cliff,/after launch. martha: that is not tim geithner. bill: that is not. but that is. they're talking. not just harry reid he is talking to. republican leaders on the house side too so critical of this, john boehner, eric cantor. how will these talks go? we'll follow it and let you know what is happening in two minutes when we continue. >> i'm trying not to paint us into too many boxes where i paint john boehner into a box that tells him what to do. year again and now -- i got a great new way to get deals. it's called bankamerideals, from bank of america. i choose the cash back deals in my mobile or online banking. i just use my bank of america debit or credit card when i pay. and i get as much as 15% cash back -- put into my account. this is on top of other rewards and discounts i already get. best of all -- it's free. happy holidays. [ male announcer ] introducing bankamerideals, free for online banking customers. sign in to your online banking to choose your deals today. now is a good time to think ab
tim geithner is the point person for negotiating the fiscal cliff,/after launch. martha: that is not tim geithner. bill: that is not. but that is. they're talking. not just harry reid he is talking to. republican leaders on the house side too so critical of this, john boehner, eric cantor. how will these talks go? we'll follow it and let you know what is happening in two minutes when we continue. >> i'm trying not to paint us into too many boxes where i paint john boehner into a box that...
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Nov 27, 2012
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we're just a little over a month away from the fiscal cliff. do lawmakers have the courage to rise above and get a deal done? our guest hosts this hour are here to talk about it. roger altman, chairman of ever corp partners. in recent days, i'll start with you, ed, i don't know if we have gotten any closer or further away. i know the president is going to talk tomorrow and say he won't cross that line at 250 for the bush tax cuts. "the new york times" lead story is any effort to curb social spending in any way on entitlements is going to face a lot of resistance. that seems like we're as far apart as we were all along. >> thii think we are far apart. i'm an optimist. what you see in negotiations is everybody plays tough and pushes it to the 11th hour. >> is it a can kicking deal we get done or an actual deal? >> roger and i were talking about this before we came on. we both want to see it get done. my view is that it needs to get done correctly and what the it is is we shouldn't lump taxes and spending in the same bucket. when you call it the f
we're just a little over a month away from the fiscal cliff. do lawmakers have the courage to rise above and get a deal done? our guest hosts this hour are here to talk about it. roger altman, chairman of ever corp partners. in recent days, i'll start with you, ed, i don't know if we have gotten any closer or further away. i know the president is going to talk tomorrow and say he won't cross that line at 250 for the bush tax cuts. "the new york times" lead story is any effort to curb...
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are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the congressional leaders and the president. the numbers are all one. there's one month left for these leaders to figure it out. two, 1.4 it is is the amount to be shaved off by gdp and one is the amount of trillions of dollars that democratic aides, senior democratic aides tell me is necessary to get a deal wit end of the year with the remaining 3 trillion of savings coming in the early part of next year, ants finally one is the number of phone calls made over the weekend between president obama and house speaker john boehner so there hasn't been a lo
are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the...
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goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on t
goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in...
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this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as disappointed as the speaker is right now. i understand some of his problem with this. but the fact of the matter is the american people ended elections on november 6th, voiced their approval of president obama's approach to this. over 3 million more people voted for him than voted for mr. romney. and then if you look at house democr democrats. only 201 of us got eelected. that means the rest were republicans. >> i understand that. >> but over 500,000 more votes than they got -- >> with all due respect, representative, we understand that the president won and you fe
this is a so-called fiscal cliff. january 1st. our news makers representative jim clyburn of south carolina, number three democrat in the house of representatives and number one i'm sure to a lot of people. hello. how are you? >> hey, don. thank you so much for having me. >> thanks for coming on. is speaker boehner right, though? as the clock is ticking, ticking toward january 1st, the talks haven't progressed in two weeks. is he right? >> well, i don't know that i'm as...
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so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings. important, nonetheless, because these are face-to-face meetings with principle players, timothy guide next the treasury secretary, tapped by the president to be the point person to spearhead the negotiations with congress over these fiscal cliff negotiations. we had had a brief shot of him arriving this morning as he was coming into the capitol. he's being joined by rob neighbors, the white house liaison to congress. he's a man that has long standing relationships with folks on capitol hill. series of meetings, all individual meetings, senator reid, told by my colleagu
so that will put him front and center in the fiscal cliff debate. also earns him a meeting today with the current treasury secretary, tim geithner. cnn's kate ballolduan on capito hill, day 33, eek, 33 days, tim geithner kicking into this process. we would assume possibly pushing into high gear or more of a photo op or a little bit of both? >> reporter: it remains to be seen. i hate having to say that for our viewers, but we're waiting to hear exactly what comes out of these meetings....
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Nov 28, 2012
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>> the fiscal cliff is a fiscal cliff. a breakeven point at a very good industry rate, around 11 million units. we have an agility baked into the operational plan that we can flex its with demand, supply. the industry and general motors in particular on a supply base service are in a different place than three or four years ago. >> maybe we will put the tock price up to see where it is. you areevery proud that day. the stock has not done much. imr. anyway this talk will get traction while the government still has a quarter to go? >> we have undergone the direct competitors in the market. you have to look apples to apples. number two, that is the ownership of the government, i can't decide when they will develop, can only nick money in north america and we have done a good job. it matters about the stock, we're all concerned about the stock. what drives stock is performance and growth products. >> always great to talk to you. electric, i know you love electric cars, so there you go. i will send this one to you. dagen: they
>> the fiscal cliff is a fiscal cliff. a breakeven point at a very good industry rate, around 11 million units. we have an agility baked into the operational plan that we can flex its with demand, supply. the industry and general motors in particular on a supply base service are in a different place than three or four years ago. >> maybe we will put the tock price up to see where it is. you areevery proud that day. the stock has not done much. imr. anyway this talk will get traction...
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impact was from the fiscal cliff talks here in washington. just after 2:00 when the senate majority leader came to talk to reporters about progress in the talks take a look at this s&p chart and you see that the market drops right as harry reid speaks. talking about that lack of progress. let me tell you exactly what he said and why i think the market got it a little bit wrong today. here is harry reid's comment that the market was reacting to. >> there has been little progress with the republicans which is a disappointment to me. they talked happy talk about doing revenues but we only have a couple of weeks to get something done. we have to get away from the happy talk and start talking about specific things. >> my take on this is that the market heard the senate majority leader saying there is little progress up here but what he was really saying is there is little progress with the republicans. he wants more concessions from the republican side. what is happening here is really a negotiation between two sides. the democrats saying they wan
impact was from the fiscal cliff talks here in washington. just after 2:00 when the senate majority leader came to talk to reporters about progress in the talks take a look at this s&p chart and you see that the market drops right as harry reid speaks. talking about that lack of progress. let me tell you exactly what he said and why i think the market got it a little bit wrong today. here is harry reid's comment that the market was reacting to. >> there has been little progress with...
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but whatever you call it, politico's front page headline reads, fiscal cliff deal emerging. it hashes out the flame woframe agreement including $400 billion in cuts to entitlements. but how close are they really? depends on who you ask. >> what's going on between the decision makers is little to nothing. >> you can actually now see what the contours of the deal look like. >> i'm optimistic that we can continue to work together to overt this crisis and sooner rather than later. >> we will not negotiate the end of medicare. i don't know what it is with these republicans. >> it's safer if you're on the progressive end of the political spectrum to go over the fiscal cliff than it is to agree to some of the things they're talking about. >> ruth, where do you stand, deal or no deal? >> not who deal, but who are more pessimistic. the clock is really ticking. about ten legislative days left in the year. outlines are there but the willingness to do it and the ability to get it done in time, i'm more disappointed than i thought i would be at this point. on the other hand, this is the
but whatever you call it, politico's front page headline reads, fiscal cliff deal emerging. it hashes out the flame woframe agreement including $400 billion in cuts to entitlements. but how close are they really? depends on who you ask. >> what's going on between the decision makers is little to nothing. >> you can actually now see what the contours of the deal look like. >> i'm optimistic that we can continue to work together to overt this crisis and sooner rather than later....
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Nov 23, 2012
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for consensus on the big fiscal cliff. host: could be wrapped up in the larger fiscal cliff talks and the possible deal they might come up with? guest: i suppose it is right. the postal service has been in its own little world since 1971 when it became an independent arm of the government, a semi- independent quasi business off of -- into its own world since 1971. it would have to have its own little section that could be added to the final legislation dealing, the big deal, the grand bargain. host: let's get to phone calls. karen from the illinois. democratic caller. caller: i was wondering why the post office is the only business that has to prepay way in advance? the republicans -- run that throned on a lame duck session? if they would go in and take it away, the post office would not be in the shape it is in. guest: the caller makes a pretty good point. the negotiators are trying to not eliminated but maybe give a -- reduce the amount of prepayments that are required. to reduce it a good amount -- the majority might be
for consensus on the big fiscal cliff. host: could be wrapped up in the larger fiscal cliff talks and the possible deal they might come up with? guest: i suppose it is right. the postal service has been in its own little world since 1971 when it became an independent arm of the government, a semi- independent quasi business off of -- into its own world since 1971. it would have to have its own little section that could be added to the final legislation dealing, the big deal, the grand bargain....
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Nov 28, 2012
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nice to chat with you. >> senator, let's talk about the fiscal cliff. increasingly we are referring to it as the fiscal curve, possibly among some folks in our circle, the fiscal mole hill. you have advocated going over the fiscal cliff as a way for both democrats and republicans to make a deal and i will call to mind -- i will call to everyone's attention comments you made at the brookings institution this summer when you said if the bush tax cuts expire every proposal will be a tax cut proposal and the norquist pledge will no longer keep republicans boxed in and unable to compromise. which would seem to be good news for republicans. what do you make of john boehner's statement saying bad idea? >> well, first of all, i respect representative cole for saying the obvious, that there is no need to hold 98% of our middle-class families and 97% of our small businesses hostage just in order to protect the wealthiest americans. that this fiscal cliff that we are facing can be resolved very quickly if we pass a bill to extend the tax cuts for those people. i r
nice to chat with you. >> senator, let's talk about the fiscal cliff. increasingly we are referring to it as the fiscal curve, possibly among some folks in our circle, the fiscal mole hill. you have advocated going over the fiscal cliff as a way for both democrats and republicans to make a deal and i will call to mind -- i will call to everyone's attention comments you made at the brookings institution this summer when you said if the bush tax cuts expire every proposal will be a tax cut...
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Nov 21, 2012
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i actually think the fiscal cliff -- they won't solve all the problems, but the fiscal cliff will turn out to be more like a ditch. if they can solve most of the problems, i think the markets are okay. >> got some clapping going on here. >> the applause it for the marines. they have hit the new york stock exchange. it's an annual tradition. >> once a marine, always a marine. >> they will be here ringing the closing bell to kick off the annual toys for tots campaign. and there's a famous bell ringer himself joining us here at the new york stock exchange. of course, the marines and all of the armed forces always get a big hand when they come to the floor of the new york stock exchange. we're very glad they're with us today. what are you going to buy here? do you feel we've seen the lows for the year here? >> i think that right now the market's realized we're going through some sort of a brush fire. if we go past the end of the year and we have nothing and no prospects, then i think we have to worry about the forest. right now it's one of cautious optimism. >> but you have to operate your
i actually think the fiscal cliff -- they won't solve all the problems, but the fiscal cliff will turn out to be more like a ditch. if they can solve most of the problems, i think the markets are okay. >> got some clapping going on here. >> the applause it for the marines. they have hit the new york stock exchange. it's an annual tradition. >> once a marine, always a marine. >> they will be here ringing the closing bell to kick off the annual toys for tots campaign. and...
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Nov 26, 2012
11/12
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in the short term, the very short term, i think actually some of the hype around the fiscal cliff is a little overblown, particularly because the first couple of days or week or so after we go over the fiscal cliff we won't see all that many impacts. all these tax and spending impacts take months to go into effect. it doesn't impact the economy until people start paying taxes, which could be several months down the line for most americans. on the spending side as well, spending is built into the cake so again you'd be looking at stuff that would be impacting the out months. for the first couple of months, no real specific impact. the big thing to worry about is whether wall street freaks out or not about the fact that we've gone over the fiscal cliff. if they do freak out, that could have an impact and cause a recession because of the wall street impact. >> and the premise of your analysis there is that we're looking at late deal or early deal. nobody really thinks that there will never be a deal. and so what you're saying, what, if it was three weeks out or late january or after the
in the short term, the very short term, i think actually some of the hype around the fiscal cliff is a little overblown, particularly because the first couple of days or week or so after we go over the fiscal cliff we won't see all that many impacts. all these tax and spending impacts take months to go into effect. it doesn't impact the economy until people start paying taxes, which could be several months down the line for most americans. on the spending side as well, spending is built into...
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Nov 29, 2012
11/12
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CURRENT
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on this show we prefer to call it the fiscal cliff or the austerity bomb. either way the country is just 34 days away from the mix of hundreds of billions of dollars with expireing tax cuts. the president called on voters though pressure congress for a deal that would freeze taxes for 911%98% of for american families. >> call members of congress, write them, e-mail, post it on their facebook wall. tweet it by using the hash tag "my 2 k." >> if the latest "washington post" "abc news" poll is correct, the 06% 60% said they supported, and oklahoma congressman tom cole told politico last night i quote i think we ought to take the 98% deal right now. it doesn't mean that i agree with raising the top two i don't. but house speaker john boehner disagreed with that call. >> i told him that i disagreed with him. >> eliot: he seemed more interesting in attacking the president than finding common ground. >> as the speaker said we have done our part. we have pup revenue on the table. we have not seen any good faith effort on the part of this administration to talk abou
on this show we prefer to call it the fiscal cliff or the austerity bomb. either way the country is just 34 days away from the mix of hundreds of billions of dollars with expireing tax cuts. the president called on voters though pressure congress for a deal that would freeze taxes for 911%98% of for american families. >> call members of congress, write them, e-mail, post it on their facebook wall. tweet it by using the hash tag "my 2 k." >> if the latest "washington...